Y Intercept Hong Kong Ltd Has $716,000 Stock Holdings in Permian Resources Corporation (NYSE:PR)

Key Points

• Y Intercept Hong Kong Ltd has decreased its stake in Permian Resources Corporation by 27.6%, now owning 51,719 shares valued at approximately $716,000.
• Multiple institutional investors have adjusted their positions in Permian Resources, with Allworth Financial LP notably increasing its stake by 376.7%.
• Wall Street analysts are optimistic, with several firms raising their price targets for Permian Resources to $16.00 and maintaining buy ratings, reflecting overall confidence in the company's growth.

Y Intercept Hong Kong Ltd lowered its position in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 27.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,719 shares of the company's stock after selling 19,718 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Permian Resources were worth $716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Permian Resources by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock valued at $944,487,000 after acquiring an additional 870,622 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Permian Resources by 60.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after acquiring an additional 12,306,854 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Permian Resources during the fourth quarter valued at $431,676,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Permian Resources by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock valued at $265,209,000 after acquiring an additional 291,444 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Permian Resources by 55.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock valued at $169,864,000 after acquiring an additional 4,236,141 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PR. Bank of America boosted their price target on shares of Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 23rd. TD Cowen upgraded shares of Permian Resources to a "strong-buy" rating in a research note on Monday, July 7th. Piper Sandler lifted their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Raymond James Financial restated a "strong-buy" rating and set a $23.00 price objective (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $18.47.

Permian Resources Trading Down 1.0%

Shares of PR traded down $0.14 during trading hours on Wednesday, hitting $14.28. 14,383,617 shares of the stock traded hands, compared to its average volume of 9,113,314. The business has a fifty day moving average of $13.77 and a 200-day moving average of $13.54. Permian Resources Corporation has a 1-year low of $10.01 and a 1-year high of $16.33. The firm has a market capitalization of $11.47 billion, a PE ratio of 8.81 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.34.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company's quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is presently 37.04%.

Permian Resources Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.